Police arraign 3 microfinance bank staff for alleged N14.2m fraud

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The police in Osun State on Thursday arraigned three microfinance bank staff before the Federal High Court in Osogbo over alleged N14.2 million fraud.

Aderinlowo Joseph, Abosede Totomi and Oyinlola Abimbola were charged with four counts of conspiracy, computer-related crime, fraud, and theft.

The defendants, however, pleaded not guilty to the charges.

The prosecution counsel, F.B Osei, told the court that the defendants committed the alleged crime between December 2016 and December 2019, at Otan-Aiyegbaju area, Osun.

Mr Osei said the defendants defrauded customers by hacking into the computer system of the bank and stole N14.273 million.

The offence, he said, contravenes the provisions of sections 27(1)(B)(2), 13 of the Cyber Crime Provision and Prevention Act 2016 and sections 390(9) 516, of the Criminal Act C 38 of the laws of the Federation of Nigeria, 2004.

Justice Peter Lifu admitted the defendants to bail in the sum of N 10 million and two sureties each in like sum.

Mr Lifu ordered that the sureties must reside within the court’s jurisdiction and must provide evidence of tax payments and two passports sized photographs, attached with an affidavit of means.

The Judge adjourned the case until March 18 for hearing. (NAN)

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